My New Blog

Pricing is Key in this Market

March 31st, 2011 3:18 PM

Although there are currently reports of snow and frigid temperatures, spring is here. I know it because the phone calls have begun from real estate agents and owners alike about pricing homes for the spring market. The agents tell me they have a client that wants to sell, but that the homeowner isn't being realistic about what their home will sell for. Owners tell me they want top dollar and they don't feel their agent is "listening" to them.

An appraisal by a state certified real estate appraiser may be able to help all involved. Homeowners and agents know that the spring market is the best time to sell: buyers want to move in to their new home in the summer. The worst mistake an agent or a homeowner can make is pricing the home too high. Any seasoned agent will tell you that if a house sits too long, it becomes "stigmatized". People begin to wonder, "Why didn't that house sell? What's wrong with it?" Pricing the house right is key in this market.

If the house is unique, that bodes the "price" question too. Sometimes a house may be over improved for the area, or may need work. So many factors come into play with pricing the house right.

Hopefully, everyone who puts their house on the market this spring will sell it in less than a month. I have seen it happen in the last few months. The homes that sell quickly are typically "priced right". So good luck to all the potential sellers and agents.